Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
As the name suggests, the HDFC Bank AllMiles Credit Card lets you earn reward points on your transactions which you can then convert to air miles. You can then use these miles to fund the flight tickets for your next holiday for little to no cost at all.
Here's what you get with this credit card:
Rewards
First-year Fee and Annual Fee Waiver
Insurance Coverage
With the HDFC Bank AllMiles Credit Card, you get to enjoy insurance coverage of two types. They are:
Accidental Death Insurance
Make a minimum of 4 transactions worth Rs.100 or more in a calendar month using your AllMiles Card and get:
Purchase Protection for Fire and Burglary Insurance
For purchases of Rs.25,000 and higher, you receive complimentary insurance coverage for a period of 180 days from the date of purchase. The coverage amount is:
Fuel Surcharge Waiver
Zero Lost Card Liability
The credit limit on your card will be intimated to you by the bank.
It is important to note, however, that multiple factors go into determining the credit limit that is extended to you. These include your employment status, income, current debt obligations, your credit repayment history, and your CIBIL score. As such, the credit limit for the same card can be different for different people.
As mentioned earlier, with this card you get:
Do note that transactions that are reversed, fuel transactions, and those converted to instalments will not earn any Reward Points.
There are two ways you can redeem your Reward Points.
Method 1
Method 2
Redeem your points for vouchers or products from HDFC's rewards catalogue. Here's how you can go about doing this:
Based on these details, an HDFC representative may call you or you may receive an SMS from the bank regarding your application.
You can apply for this card on the bank's website.
Here are the steps that you need to follow:
| Type of Charge | Amount |
|---|---|
| Joining fee (first-year fee) | Rs.1,000 |
| Annual fee (second year onwards) | Rs.1,000 |
| Interest rate | 3.49% per month (41.88% p.a.) |
| Interest rate in case of default | 3.5% per month (42% p.a.) |
| Late payment fee |
|
| Minimum repayment amount | 5% of the outstanding balance or Rs.200, whichever is higher. |
| Cash advance limit | 40% of the credit limit |
| Cash advance fee | Rs.2.5% of the amount withdrawn subject to a minimum of Rs.500 |
| Rewards redemption fee | Rs.99 per request |
| Reissue of lost, stolen, or damaged card | Rs.100 |
The eligibility criteria for the HDFC Bank AllMiles Credit Card are:
Salaried Persons
Self-employed Individuals
In addition to this, the bank may have other eligibility criteria as well. You can speak to a representative of the bank for more information regarding your eligibility for this card.
The documents required will be intimated to you by the bank when the bank goes through your application form to see if you are eligible for the card or not. While they may request you to provide multiple documents, here's an indicative list of documents you may require:
There is a cap on the Reward Points that you can earn on insurance transactions. The points that can be earned on these transactions are capped at 2,000 per transaction.
No. This policy does not cover loss and damage due to fire for articles that are naturally combustible in nature. It also does not cover any damage done to motor vehicles or pedal cycle deeds, bills of exchange, promissory notes, bonds, share certificates, business books, unset precious stones, jewellery, manuscripts, documents of any kind, and other such valuable items.
To make a purchase protection claim, you have to:
The redemptions value for the points earned on your AllMiles Credit Card is 0.15 per Reward Point.
Your Reward Points are valid for two years from the date of earning them. So, if you earn points in June 2023, they will expire in June 2025.
You enjoy an interest-free period or grace period of up to 50 days with the HDFC Bank AllMiles Credit Card.
You can check the status of your application by navigating to the page to check your application status. Make sure that you have details such as your 16-digit application number handy. You will also have to provide your mobile number and your date of birth.
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